The dropping value of the currencies of Russia and Belarus has forced some migrant workers from these countries to make their way to Lithuania, mostly illegally, the State Border Guard Service says. […]
Lithuanians are more optimistic about their country and their financial prospects, but expect to save less in the coming year, according to the latest survey from Statistics Lithuania. […]
Lithuanian banking regulators have hit a consumer credit company with a fine of €30,000 for issuing loans to unemployed applicants, the biggest penalty of this kind to date. […]
The road maintenance and development program (KPPP) finance estimates submitted by the Ministry of Transport and Communications were approved by the government on Monday. The amount earmarked for road development and maintenance was €454 million, or 16.8 percent, larger than it was in 2015. […]
After Lithuanian economist Nerijus Mačiulis said recently that the new government in Poland made the country as unpredictable a business partner as Russia, Lithuanian businesspeople counter him by insisting they do not see any threats in doing business with the neighbouring country. […]
Energy Minister Rokas Masiulis says that the arbitration case to be filed against Lithuania by the French group Veolia is a distraction tactic, adding that the government might counter-sue over violations by its subsidiary Vilniaus Energija. […]
The French group Veolia, which owns heating companies in Lithuania, is suing the country for €100 million at the International Centre for Settlement of Investment Disputes (ICSID) in Washington. Veolia is demanding compensation for losses it allegedly sustained due to unfair treatment by the Lithuanian government. […]
France‘s Veolia, which owns energy companies Vilniaus Energija and Litesko in Lithuania, is set to announce its plans regarding its Lithuanian assets. Sources say the French company might be leaving the Lithuanian market. […]
“The beginning of 2016 was one of the worst years in history for raw material and stock prices,” said Swedbank Chief Economist Nerijus Mačiulis. On Tuesday, he presented his projections for economic growth in Lithuania, and the prospects for exports and the international economy. […]
Lithuania is seeking private companies to compete for a concession deal to run the country’s three international airports but aviation experts warn that the highest bidder might not be the right choice. […]
Lithuania will not introduce progressive taxation because there are too few high-earners, according to the country’s social democrat Prime Minister Algirdas Butkevičius. […]
Lithuanian customs officers seized smuggled items worth over €30 million last year, according to preliminary data. […]
Even the €8 increase in the average pension will not help pensioners in Lithuania, who receive one of the most frugal pensions in Europe. President Dalia Grybauskaitė is encouraging lawmakers to index pensions, which would make them increase together with growing average wages in the nation, and the prime minister, Algirdas Butkevičius, believes that indexing pensions would make them grow by up to 6 or 7 percent. […]
The Lithuanian parliament’s Anti-corruption Commission has turned to the minister of finance, asking for clarification about public procurement contracts of the State Tax Inspectorate (VMI). […]
Vilniaus Energija, the Lithuanian energy company owned by France’s Veolia (formerly Dalkia), has failed to convince a court that it should be reimbursed €19 million it overpaid for Gazprom gas. […]
A sudden rise in apartment rents, especially in Vilnius, after the adoption of the euro has no “rational basis”, says Danske Bank economist Rokas Grajauskas, adding that he expects rents to go down this year. […]
Lithuanian businessman Mindaugas Marcinkevičius, a minority shareholder in the company that operates the country’s biggest grocery chain Maxima, is to go to the Luxembourg courts to contest a €90-million loan at below-market interest rates that the company extended to Luxembourg-registered businesses owned by another shareholder. […]
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